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PowerMan
I've bought several electronic ignitions from Summit Racing but can't seem to find them on Summit any more. Jegs still has them: Jeg's 318 Electronic Ignition Conversion

The NP420's have a cast iron top cover while the NP435's have an aluminum cover and have a synchronized 2nd gear.

It would be a good idea to find some locking hubs for the front if you plan to drive it around a lot and/or at higher speeds. Beeing able to unlock the hubs will reduce wear on the front end parts and also eliminate extra noise from extra parts turning.

If your brake drums are worn past the point of having them turned you can have the brake shoes relined with thicker material than what was on there originally. I had to do this with our '64 W300.

If all else fails you can always update the front and rear with a newer front Dana 60 (with disk brakes) and a rear Dana 70 or 80 (with/or without disk brakes) and add on a power brake booster.

Great truck by the way!!!

Rob